Auto Loan Setup on Quicken DeLuxe for Windows 11

Nemo

I want to set up an Auto Loan. I want to show the total monthly payment amount in my checking account from which is sent to the account loan account, then I want the auto loan account that receives the payment to break it down into principal and interest. Example: Checking account shows $300 payment made auto loan category. Auto loan account then shows the $300 incoming as $288.15 applied to principal and $11.85 applied to interest. Thanks for help with this.

UKR

Set up your Auto loan as an "offline" (manual) account, not connected to the bank for transaction downloading. Do not attempt to connect / activate it for downloading later.
During the loan setup process, create and use a Scheduled Reminder for the monthly payment transaction. This reminder transaction will contain the calculated split for Principal amount (as transfer from checking to the loan account register) and the interest will be categorized to something like Auto Loan:Interest.
Quicken will calculate a payment schedule and use it to input the correct principal and interest amounts every month. However, the bank's calculation may be slightly different from these numbers, so you may have to make adjustments every month, based on the numbers shown on the bank's monthly loan statement.

This scheduled reminder will record the payment in Quicken only. You still need to make the actual payment.
For this, I recommend you logon to the loan website and authorize automatic debits (APS, Autopay, whatever they call it) to be made from your checking account on due date, this month and every month for the duration of the loan.

Do be sure to record the scheduled reminder at least a day or two before the payment due date and BEFORE you download transactions for the checking account containing the payment confirmation. This way Quicken will be able to match the downloaded transaction to the already existing payment transaction in the register and not cause any issues.

Tom Young

"then I want the auto loan account that receives the payment to break it down into principal and interest. Example: Checking account shows $300
payment made auto loan category. Auto loan account then shows the $300 incoming as $288.15 applied to principal and $11.85 applied to interest."

That's not how accounting really works. The loan Account will only show increases in the loan principal balance (you've borrowed more) or decreases in the loan principal balance (you've made a payment to the lender that includes some amount of principal). The interest expense element of a payment shows ups as a "Category" (Quicken's term for an income or expense) in your Income & Expense reports.

@UKR 's answer as to how you should set up the loan in Quicken will do this accounting more or less properly, though since Quicken really doesn't "do" auto loans very well (If you you Quiken's loan "wizard" to set up the loan) you probably will have to make small adjustments along the way.